Business
February 2022 Newsletter | Chemicals in your food By Dr Jerry J. Masarira
Business
African Utility Week and POWERGEN Africa, a stalwart of the energy industry, has been rebranded as Enlit Africa – African Business
After two years in limbo, the African events industry is making a comeback in June 2022 in Cape Town, South Africa, with the latest edition of Africa’s most respected power and energy event: African Utility Week and POWERGEN Africa, which is now known as Enlit Africa.
VIEW THE ENLIT AFRICA PROGRAMME – https://bit.ly/3lAffQE
Collaboration to fast-forward Africa’s energy transition
At COP26 in 2021, South Africa signed a $8.5 billion energy transition deal intended to contribute to the early retirement of coal plants, building cleaner energy sources and support of coal-dependent regions. But what does the transition away from coal mean for jobs in the coal mining sector and how does the country plan to reskill the existing workforce to move towards a greener economy by 2050?
The reality is that the transition away from coal threatens 120,000 jobs at heavily unionised mines and power plants, in a country that by some measures has the world’s highest unemployment rate and where one job often feeds a large family.
So how does a country overcome these challenges? The solutions will be unpacked during the Opening Keynote Session of Enlit Africa in Cape Town on Tuesday 7th June at the Cape Town International Convention Centre. Themed “Collaboration to Fast-Forward Africa’s Energy Transition’ and sponsored by GE, this critical discussion will see Eskom South Africa Group Chief Executive Andre de Ruyter, Mark Carrato coordinator of USAID’s Power Africa and other invited guests unpack these questions and suggest proposals that will advance the African energy transition in a way which is equally beneficial for the environment, communities and business.
REGISTER FOR YOUR FREE VISITOR PASS – https://bit.ly/3yTppU0
Business
9th Africities Summit: Mrs. Fatimetou Abdel Malick Elected UCLG Africa New President – African Business
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The third day of the Africities was marked by the elective general assembly of United Cities of Local Government of Africa (UCLG Africa) (www.UCLGA.org). The general assembly elected the new office bearers of the organization, namely the 45 members of the UCLG Africa Pan African Council; the 15 members of the Executive Committee; the 5 members of the UCLG Africa Financial Management Committee; the 5 Vice Presidents, among which the Region of Nouakchott, Mauritania represented by its President, Mrs. Fatimetou Abdel Malick, was elected the new President of UCLG Africa.
“The mandate that is beginning will be the mandate of all challenges, which we can only take up together and each one separately in its segment. For my part, I will strive to carry our voice as far and as effectively as possible and to contribute to making our organization a key player at the continental level but also at the international level, ” she said. .
The new leadership of UCLG Africa elected for a 3-year mandate is composed as follows:
UCLG Africa Presidency (5 Vice Presidents) : Region of Nouakchott (Ms. Fatimetou Abdel Malick), County of Kisumu (Prof. Peter Anyang’ Nyong’o), City of Libreville (Ms. Christine Mba Ndutume), Union of Cities and Communes of Côte d’Ivoire ( Hon Claude Paulin Danho), and Botswana Association of Local Authorities (Mr. Jeffrey Sibisibi); to which to add, ex officio, the City of Banjul, The Gambia, President of the Network of Locally Elected Women of Africa, REFELA (Mrs. Malick Lowe).
The Region of Nouakchott represented by Ms Fatimetou Abdel Malick, was elected the new President of UCLG Africa until the next general assembly due to take place in 2025.
UCLG Africa Executive Committee (15 members) : Kisumu County Government (Kenya); Rwanda Association of Local Authorities. RALGA, (Rwanda); Victoria District (Seychelles); Botswana Local Authorities Association (BALA), South African Local Government Association (SALGA); City of Kwe Kwe, Zimbabwe; La Faitière des Communes du Togo (FCT); Association of Local Authorities of Nigeria (ALGON); Union des Villes et Communes de Côte d’Ivoire (UVICOCI); Communes et Villes Unies du Cameroun (CVUC); Commune de Libreville, Gabon; Association des Maires de Congo (AMC); Region of Nouakchott; Moroccan Association of Presidents of Communal Councils (AMPCC, Morocco); and the Governorate of Cairo ( Egypt).
The Local Government Association of South Africa, SALGA (Cllr. Bheke Stofile) was designated to be the candidate of Africa for the Co-Presidency of the world organization of UCLG.
Business
ESG case study: South Africa's SA Taxi attracts new set of investors – African Business
One of the largest developments in global capital markets over the last several years has been the rapid rise in institutional investors’ appetite for ESG (environmental, social & governance) investments. According to the Bloomberg Sustainable Finance Market Outlook, in 2021, more than $1.6trn in sustainable debt instruments were issued, setting a new record and bringing the total market to over $4trn globally. The leap in this market in 2021 reflects an 87% annual growth rate since 2013.
Some African companies are following this trend, and finding that they can do well by doing good. That is what happened when SA Taxi issued its landmark R900m [approximately $55m] series of social bonds. By agreeing to a far-reaching set of social goals, the JSE-listed company was able to improve their cost of capital, and attract the attention of a new set of institutional investors who seek ESG investments.
“We decided to issue a social bond because we are privileged to be making an impact on bettering public transport, enabling financial and social inclusion and enhancing climate resilience,” said SA Taxi CEO, Terry Kier.
Robust social framework
SA Taxi is South Africa’s largest lender to taxi drivers for the purchase of minivans – South Africa’s de facto public transport system that moves 15m people daily. SA Taxi’s bond issuance was heralded as one of the first, largest and most comprehensive transactions of its kind in Africa. In order to access this rapidly growing pool of investment, the issuerof the bonds, SA Taxi, developed a robust social framework to communicate to investors, and other stakeholders, how the use of the bond proceeds would have environmental and social impact on South Africa.
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